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Alliance Trust PLC 125th Annual General Meeting

Alliance Trust PLC 125th Annual General Meeting. Katherine Garrett-Cox Chief Executive 3 May 2013. 2012 Company objectives. To deliver strong investment performance To review dividend policy To achieve recurring monthly profitability within Alliance Trust Savings

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Alliance Trust PLC 125th Annual General Meeting

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  1. Alliance Trust PLC125th Annual General Meeting Katherine Garrett-CoxChief Executive 3 May 2013

  2. 2012 Company objectives • To deliver strong investment performance • To review dividend policy • To achieve recurring monthly profitability within Alliance Trust Savings • To increase third party Assets Under Management (AUM) in Alliance Trust Investments

  3. 2012 highlights

  4. Delivering strong performance – Restructured the global equity portfolio Five regional portfolios 200 listed equity holdings in January 2011 Investment team Scotland based One global portfolio 100 listed equity holdings in December 2012 Investment team 50:50 London and Scotland

  5. Delivering strong performance – Reduced the number of holdings Source: Alliance Trust

  6. Review of dividend policy • We continue to deliver a progressive and sustainable dividend • We aim to pay out all of each year’s net revenue earnings • We do not pay dividends out of realised capital reserves

  7. Alliance Trust Savings Achievements • Reduced costs • Re-focused business • Sold Small Self-Administered Scheme (SSAS) and Full Self-Invested Personal Pension (SIPP) businesses • Delivered monthly profitability by Q4 2012

  8. Alliance Trust Investments Achievements • Performed well against competition • 11/13 funds above median • 7/13 outperformed benchmarks • Increased third party Assets Under Management (AUM) • Integrated Sustainable & Responsible Investment (SRI) team and funds from Aviva • AUM rose from £129m to £1.4bn

  9. But what of the future?

  10. Alliance Trust vision • To invest in the best companies all round the world • To make every holding count, including subsidiaries • Have a combination of capital growth and income • Maintain a long-term investment horizon “To be the UK’s most trusted investment and savings business.”

  11. Performance update Performance from 31 December 2011 to 30 April 2013 Source: FactSet & Morningstar

  12. Narrower discount Source: FactSet and Morningstar

  13. Investing for generations Source: Alliance Trust

  14. Market outlook

  15. Your Company is well positioned for the future • Driving improvements across the company • Delivering stronger investment performance: • Restructuring of the global equity portfolio is delivering results • Alliance Trust Savings expected to be profitable for full year in 2013 • Alliance Trust Investments managing almost £1.5bn of third party AUM and growing • Dividend policy reaffirms our commitment to providing a growing income Your Company is better positioned to deliver consistent returns

  16. Important information • Whilst considerable care has been taken in compiling the content of this presentation, no representation or warranty, expressed or implied, is made by Alliance Trust PLC as to its accuracy or completeness. • The value of investments and the income from them may go down as well as up and are not guaranteed. The original amount invested may not be returned. • Any examples are for illustration purposes only, the figures are not guaranteed and should not be relied on. • Past performance is not a guide to future performance. • Further information is available on our website www.alliancetrust.co.uk • All figures and graphs are sourced at Alliance Trust PLC unless otherwise stated. • Nothing said or covered by the presentation today should be construed as being an inducement or invitation in investment activity. No advice is given by Alliance Trust PLC.

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